MELBOURNE: Mercury Brands Limited has announced its intent to change its name to Consolidated Capital Investments Limited next year.
It is the second name change for the company in just under two years, as it was formerly Austin Group before becoming Mercury Brands in July 2008.
The name change will be put to shareholder vote at the company's 2009 annual general meeting to be held on January 27 next year in Melbourne.
A notice from the company said a name change will require the approval of the company's shareholders by special resolution. It said that in accordance with the Corporations Act, the resolution must be approved by at least 75 per cent of members present at the meeting in person or by proxy.
It said the directors unanimously recommend that shareholders vote in favour of the name change.
As previously reported in Ragtrader, the company formerly owned the Mercury Brands stable of approximately 20 fashion labels including Kangol, Roar, Itsu and Voodoo Dolls before selling them to Australian Horizons Trading in October this year.
Australian Horizons Trading stepped in after Mercury Brands went into receivership in mid-September, following an $11.4 million loss for the 2008/09 financial year. Mercury Brands stands to receive ongoing royalties from Australian Horizons Trading for various label licences.
Also to be discussed at the annual general meeting will be the company's financial status, the election of Santino Di-Giacomo and Peter Stafford as directors and the issuing of shares.